Vancouver, British Columbia--(Newsfile Corp. - April 4, 2019) - GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC: GBCHF) ("FORK" or the "Company") is pleased to announce that following the completion of the crowdsale for the AMR crypto asset, it has entered into a letter of agreement with US-based AmmbrTech, Inc. ("AmmbrTech") in which FORK will invest its holdings of AMR tokens into AmmbrTech's subsidiary Ammbr Telecom Inc. ("Ammbr Telecom"), which will be deploying Ammbr wireless mesh network technology in northern Canada. There will be a primary business focus on servicing the natural resource industry (e.g. mining exploration, oil and gas, forestry ), though Ammbr Telecom will also be working actively with disadvantaged and low-income communities, to avail Internet connectivity to them.
In October 2018, the Company announced it had partnered with Singapore-based Ammbr Foundation Pte Ltd. ("Ammbr Foundation"), which has developed the Ammbr Network; a blockchain platform that manages a wireless mesh network, which acts as a decentralized Internet service provider (ISP). This is done through Ammbr wireless router hardware, where individuals with Internet connections are able to "sell" their Internet bandwidth through the network, and individuals who seek to use the Internet may do so using Ammbr Network connections within range for them. All transactions on the Ammbr network are settled using the AMR cryptocurrency token, which is capable of processing near-instant micropayments for Internet access on an automated basis.
The formation of Ammbr Telecom will involve setting up business operations in northern Canada, which at the outset will primarily be focused on deploying router hardware in line with the needs of local companies in the natural resources industry, as well as securing grants for the development of networks in these areas. Simultaneously, efforts will be made to understand the Internet connectivity needs of disadvantaged and low-income communities, with deployments to be made accordingly. This rollout of Ammbr router hardware will complement the mid-2019 rollout in 53 Tier 2 and Tier 3 cities and 15,000 villages in the Maharashtra Province of India, through AmmbrTech's partnership with India-based ISP Smartware.
To strengthen the executive leadership of Ammbr Telecom, Simon Ditner the Chief Technologist of FORK will be joining Ammbr Telecom as its Chief Technologist to provide oversight of its technologies and technical matters. FORK congratulates Mr. Ditner for being selected for this role, and expresses gratitude for his exemplary service to the Company.
Ammbr Foundation management members Derick Smith and Rakesh Rajagopal will also be participating in the management team of Ammbr Telecom. FORK will be investing its entire holdings of AMR tokens into Ammbr Telecom, and in exchange for its investment it shall receive a 25% stake of its equity.
To provide clarity with respect to each of the Ammbr-related entities, a description of each is provided:
Ammbr Foundation Pte Ltd. (Ammbr Foundation): The principal organization behind the Ammbr wireless mesh network and the overall vision, based in Singapore.
AmmbrTech, Inc. (AmmbrTech): The US-based organization that is focused on the development and distribution of router hardware for use on the Ammbr network.
Ammbr TelecomInc. (Ammbr Telecom): A Canadian-based co-venture of AmmbrTech and FORK, which will be dedicated to rolling out Ammbr Network hardware and connectivity in Canada.
"We are thrilled to be bringing Internet connectivity to parts of northern Canada that do not have reliable Internet access," said Shidan Gouran, President and CEO of the Company. "According to the World Bank, more than 91 percent of Canada's population uses the Internet; though that means close to nine percent does not, which is more than 3.3 million people, many of whom are up north. There are many government grants available for the rollout of networks like the Ammbr network, and we believe that we have made a very good investment into Ammbr Telecom enabling this to happen. We look forward to making this a success with Mr. Smith, Mr. Rajagopal, and Mr. Ditner at the helm of the organization."
AmmbrTech CEO Derick Smith added, "In 2019, there will be two major, large-scale use cases of the Ammbr Network on opposite sides of the globe, between our rollout in northern Canada, and our rollout in India. As we will be servicing companies as well as disadvantaged communities, this fulfills our visions for Ammbr, including the social impact of bringing Internet connectivity to those who need it the most."
On behalf of the Company:
Shidan Gouran, President and CEO
For more information please contact:
Global Blockchain Mining Corp. Investor Relations
About Global Blockchain Mining Corp.
With blockchain technology rapidly re-shaping the models of many companies, industries, and their business processes, Global Blockchain Mining Corp. ("FORK") places a focus on the common needs of early-stage blockchain adopters. Originally founded with a focus on crypto-mining, FORK has recently diversified its offerings by placing an emphasis on professional services such as developing and administering launches of tokens and digital assets. Adapting to changes in blockchain technology, FORK is also now utilizing its computing power to provide consensus services, such as the operation of masternodes, servicenodes, and witnesses which are alternative methods to cryptocurrency mining for generating and acquiring digital assets. . Investors, through their investment in the Company, are provided with exposure to these tokens, cryptocurrencies and digital assets without the lengthy, and complicated process that interested investors must undergo in order to gain exposure to these cryptocurrencies and digital assets.
The Company is listed on the Canadian Securities Exchange ("CSE") and its common shares trade under the ticker symbol "FORK". Additional information relating to the Company is available on SEDAR at www.sedar.com, the CSE at www.theCSE.com as well as on the Company's website at: www.forkcse.com
Cautionary Note Regarding Forward-Looking Information
Forward-Looking Information: This news release includes certain statements that may be deemed "forward-looking statements". The use of any of the words "anticipate", "continue", "estimate", "expect","may", "will", "would", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed onthe forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com
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